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Cola giants line up Rs 800cr investment for Bengal

KOLKATA: Perhaps for the first time in India, two US cola majors — Coca Cola and PepsiCo — have announced main funding plans in a state at the same day.

On Thursday — the first day of the 5th version of Bengal Global Business Summit (BGBS) — Bengal won Rs 800-crore funding proposal from Coke and Pepsi. While Coca Cola India will make investments Rs 500 crore, state assets stated PepsiCo would pump in round Rs 300 crore.

Finance and industries minister Amit Mitra announced Coke’s funding plans in Siliguri within the presence of Coke India and South West Asia President T Krishnakumar.

However, PepsiCo did not disclose its funding figures in West Bengal. Later, assets within the state government stated that Coke has a plant near Siliguri’s Rani Nagar, which might be expanded. Sources stated that a new product line would even be implemented.

In a statement later, Pepsi-Co India reaffirmed its commitment to West Bengal and announced plans to expand its operations within the state. According to the cola main, it'll spend money on a brand new production line at its snacks production facility in Kolkata, whilst increasing its agricultural sourcing from farmers within the state. The fresh funding for growth is in line with PepsiCo’s plans to double its snacks business in India by 2022 and has the possible to generate over 300 further employment opportunities.

As part of this growth, PepsiCo India intends to increase its potato sourcing from West Bengal by 50%. The transfer supports the state’s industrialization led growth focal point and can create broader socio-economic opportunities for farmers right here, particularly potato farmers. The business growth will even supply a thrust at the transport sector.

Reiterating PepsiCo India’s commitment to the state, Ahmed El Sheikh, president & CEO, PepsiCo India, stated, “West Bengal is an important market for us and our snacks production facility right here plays an important position within the higher good fortune of our snacks business in India. As we expand our operations within the state, we've got plans to significantly build up our potato sourcing from our ‘farmer friends’ programme in West Bengal.” Neelima Dwivedi, vice-president, PepsiCo India, represented the firm at BGBS.

According to america massive, potatoes utilized in Lay’s and Uncle Chipps are sourced from Indian farmers. Through its 360-degree farmer connect initiative for potato cultivation, PepsiCo supplies training and seed improve, complex plant coverage projects, and assured buy-back with affordable returns. The growth of the Kolkata unit might be accompanied by an build up in PepsiCo’s collaborative farming programme for potato sourcing within the state.

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